Ideagen AI tool takes the pain out of ESG reporting
May 28, 24
Environmental, social and governance (ESG) reporting headaches could be a thing of the past, after Ideagen, a leader in regulatory and compliance software, today announced a new strategic partnership to create Ideagen Carbon Accounting set to be a disruptor in the complex world of greenhouse gas emissions measurement.
Using generative artificial intelligence (AI), the solution dramatically streamlines the complex requirements of carbon accounting, helping businesses to deliver on emissions reporting to the highest regulatory standards.
Ideagen already has more than 16,000 customers globally, many of whom already use their environmental, health and safety and financial reporting solutions. Clients have shared that one of their biggest challenges is the accuracy and intricacy of reporting to the various global ESG standards. And it was this feedback that inspired the collaboration with Emizio, an innovative envirotech disruptor.
The platform is designed to provide a new way to streamline the carbon accounting process for businesses, helping to reduce workload, save time and alleviate stress, all while delivering trusted results for reporting.
The platform guides users through the entire carbon accounting process from start to finish. Contributors across a business can simply upload corporate activity data – such as energy or vehicle usage records – regardless of file type or format, and Ideagen Carbon Accounting will automatically extract the relevant data and undertake calculations to generate audit-ready emissions results. This enables organizations to quickly achieve accurate carbon accounts with ease and efficiency. The inbuilt AI capabilities also help recognize and reconcile gaps in data, a common issue in carbon reporting, helping businesses report more accurately.
Emma Hayes, Chief Financial Officer at Ideagen, said: "Carbon accounting is complicated and meticulous. Meeting the regulations for greenhouse gas emissions requires many datasets from many different sources across a business. If you're a multi-site organization that's even more challenging. It increases the risk of misreporting and greenwashing accusations.
"It became clear that if our purpose is to provide clarity and confidence to regulated industries, then we needed to find a solution that helps businesses navigate the complexities of ESG compliance. But it needed to be innovative, efficient and easy for organizations to execute."
The technology is proven and has already been adopted by leading multinational professional and financial services organizations. Partnering with Ideagen provides a more extensive distribution network and product development expertise.
Natasha Thakur, who has a financial sector background, supported by climate strategy expert, Alex Whyte, will lead the rollout. She said: “This partnership enables us to serve a wider customer base, empowering businesses worldwide to reduce their carbon footprint and achieve accurate and timely ESG reporting.
"Ideagen Carbon Accounting is responding to the current demand for better carbon accounting solutions and setting a new benchmark for environmental responsibility in the business sector, emphasizing the critical role of technology in ensuring a sustainable future.
"The announcement comes at a time when environmental concerns dominate global discussions, making efficient and accurate carbon accounting crucial for businesses committed to their ESG goals. Through this new partnership, we can equip both new and existing clients with the tools necessary to effectively meet their objectives, providing trusted results for carbon emissions reporting."
For more information, visit www.ideagencarbonaccounting.com